Brazilian travel operator CVC is expected to aim for mid-April for its IPO, according to bankers close to the deal. CVC management watched on the sidelines as rival Brasil Travel dropped the price of its IPO in early February to as low as R$850 from a range of R$1,250 to R$1,650 and eventually pulled the deal. Another potential deal, Seadrill, was pulled at the end of January.
CVC joins a growing list of candidates that might be considering the dubious honour of being the first Brazilian IPO of 2012, joining rumoured plans for issuance by companies including Brazilian meatpacker JBS’s planned IPO for its dairy subsidiary, Vigor Alimentos; oil and gas company Queiroz Galvão Perfurações; and energy company CPFL.
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